Tidemark Federal Credit Union, a $261 million institution based in Seaford, Del., announced that it paid out a patronage dividend of more than $139,000 to some of its members.
Members who used multiple services — such as checking, loans, and investments — found an extra $100 in their checking account on Feb. 14, the credit union said.
“Our members cooperatively own this credit union and each of these member-owners is a shareholder,” CEO Pamela Fleuette said. “After paying all operational costs, TFCU reinvests in its member-owners by offering additional products and services; expanding locations or maybe the hours; and now through returning a patronage dividend.”
Tidemark FCU posted net income of about $2.8 million in 2017, slightly down from about $2.9 million in 2016.
The credit union reported total loans and leases of about $150.7 million in 2017, up from about $137.8 million in the prior year.
Along with Tidemark, North Carolina-based Coastal CU also paid out a dividend to members on Valentine's Day.